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Gold and silver prices are down

"You were recently involved in a transaction for the following item:

302922946657 - 1 oz Austria Philharmonic Gold Random Year 1 oz .9999 fine Gold Coin

We’re writing to let you know that an unauthorized third party may have accessed the seller’s account to list this item. The item has been removed from the site, and the transaction was cancelled. We ask that you take the following precautions:"


ETA: Chatted with eBay. Here's how the scam works. Scammers look for accounts with lots of transactions and very high eBay feedback scores. Then they compromise them and post an item for sale. They specify a Paypal account that the scammer owns for the proceeds for this item.

The reason they take over an existing account with a great feedback score and lots of transactions... apparently those folks get the funds from Paypal very quickly. So the scammers are hoping that they can grab the funds before anyone notices the scam. Basically they are stealing the good credit history of this person's account. And the good reputation of high seller feedback.
 
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I bought a ncg rated coin from someone on eBay once with huge positive feedback from the USA. I got a tracking number from China and that’s all eBay needed to cancel the sale. Coin came in and sure enough it was fake.
 
Yeah, I'd hate to get burned on a PM. I've been buying/selling for 35 years and never bought anything that a dealer would not buy back...
 
Man, just noticed Apmex on Ebay is now charging tax! A few others too, like bullion exchanges. MCM is not, yet.

Could our government suck more? I think not. They don't charge tax if you buy US Treasuries. Ridiculous.
 
I saw that last week. But then went and checked out a different item from Apmex that didn't have tax.

Hmmm......

ETA: I think they charge tax on sales less than $1000. Added a single 1/10 ounce American Eagle and there was sales tax. Upped it incrementally to Qty 7 and the tax disappeared.

Try it and see if you find the same.

Varmint said:
Man, just noticed Apmex on Ebay is now charging tax! A few others too, like bullion exchanges. MCM is not, yet.

Could our government suck more? I think not. They don't charge tax if you buy US Treasuries. Ridiculous.
Click to expand...
 
Varmint said:
Man, just noticed Apmex on Ebay is now charging tax! A few others too, like bullion exchanges. MCM is not, yet.

Could our government suck more? I think not. They don't charge tax if you buy US Treasuries. Ridiculous.
Click to expand...

Wow. I have ordered from Bullion Exchanges in the past and they didn't charge tax, but just went and checked it out and sure enough they add tax on purchases under $1,000. God I can't wait till I retire and move out of Mass.
 
I'm starting to see a significant increase in the amount of articles about the coming stock market crash/housing market crash/bubbles bursting/coming recession/booming deficits/etc. With so many of those articles out now it makes me wonder if we have hit the bottom of the metals markets? Any thoughts?
 
Win I'm wrong more than I'm right on these things. But I agree with your assessment.

I just keep accumulating a little at a time and over time I figure we'll got a financial wall.
 
Yep. The internet has been slowly, methodically, completely killing off the Mom & Pop shops and local coin stores and now that the Internet Sales Tax was approved by the Supreme Court,
cost per ounce (CPO) will go up. That is why I am hoping to foster a small gray zone for buying/selling here on NES.
 
richc said:
I saw that last week. But then went and checked out a different item from Apmex that didn't have tax.

Hmmm......

ETA: I think they charge tax on sales less than $1000. Added a single 1/10 ounce American Eagle and there was sales tax. Upped it incrementally to Qty 7 and the tax disappeared.

Try it and see if you find the same.
Click to expand...

Oh that’s right, that’s the Mass law, over $1000 is tax free. Thanks rich!
 
Romokid said:
Wow. I have ordered from Bullion Exchanges in the past and they didn't charge tax, but just went and checked it out and sure enough they add tax on purchases under $1,000. God I can't wait till I retire and move out of Mass.
Click to expand...

Like most Blue States, Mass builds in protections for the FSA and the super wealthy. Anyone in the middle has to support the other two.
 
Win said:
I'm starting to see a significant increase in the amount of articles about the coming stock market crash/housing market crash/bubbles bursting/coming recession/booming deficits/etc. With so many of those articles out now it makes me wonder if we have hit the bottom of the metals markets? Any thoughts?
Click to expand...

Typically you don’t bottom when everyone is calling a bottom. But if we have another big drop I’m buying cause we have to be getting close.
 
I went to JM Bullion's website and they have a sale tax section that lists the states they charge sales tax and when you click on MA it reads that they began collecting sales tax as of October 1, 2018.
 
Being a software guy I tend to test stuff like this.

So I added a uncirculated one ounce St Gaudens to the order and a single 1/10 ounce American Eagle and it added sales tax to just the 1/10th ounce coin only. But if I changed the qty to 7 on the 1/10th ounce Eagle sales tax went away. FYI these were all from the same eBay seller.

So it appears sales tax is applied on the line item level rather than the order level. And only to bullion coins. If I add a PCGS graded pre 1933 gold coin and go to checkout there's no sales tax, even though it is under $1000.

Bizarre...

Varmint said:
Oh that’s right, that’s the Mass law, over $1000 is tax free. Thanks rich!
Click to expand...
 
US Gold $20 Saint-Gaudens Double Eagle - PCGS MS62 - Random Date | eBay

Got an offer for 8% eBay bucks today. Been looking around. This is not the best deal I've seen in combination with eBay bucks but not bad.

$1325.41 for PCGS 62 St Gaudens. Maybe the most beautiful coin ever minted by the US government. In uncirculated condition.

Your cost after eBay bucks is $1225.41. They have .9675 ounce gold content, so gold value is 1187.70. You're paying a $37.71 premium over gold value. For a coin that is 90+ years old, PCGS rated and uncirculated.
 
China 30 gram Gold Panda BU (Not Sealed) - SKU #96309 | eBay

Here's a 30 gram Chinese gold coin from a reputable dealer (Apmex). $1291.54, less $100 eBay bucks gives you a price of $1191.54. At current gold spot price of $1225.50 it contains $1182 worth of gold. So $9 over spot. No credit cards fees. I get air miles for my card.

Personally I'd order the deal I listed below. It's a US coin certified by PCGS and close to 100 years old in uncirculated condition. PCGS will stand behind fakes it certifies. So IMHO the Saint-Gaudens certified coin will have a higher resale value, and you're really only paying an extra 3% or so. Worth the peace of mind over Chinese coins, even from a reputable dealer.
 
richc said:
China 30 gram Gold Panda BU (Not Sealed) - SKU #96309 | eBay

Here's a 30 gram Chinese gold coin from a reputable dealer (Apmex). $1291.54, less $100 eBay bucks gives you a price of $1191.54. At current gold spot price of $1225.50 it contains $1182 worth of gold. So $9 over spot. No credit cards fees. I get air miles for my card.

Personally I'd order the deal I listed below. It's a US coin certified by PCGS and close to 100 years old in uncirculated condition. PCGS will stand behind fakes it certifies. So IMHO the Saint-Gaudens certified coin will have a higher resale value, and you're really only paying an extra 3% or so. Worth the peace of mind over Chinese coins, even from a reputable dealer.
Click to expand...

Yeah I'd buy the PCGS coin over the panda, has more history for not much more money, and looks nicer.

These are like $30 under spot as well (based on 1 oz) after Ebay bucks. I think they're restrikes so just buy them as nice-looking bullion.

SPECIAL PRICE! Swiss Gold 20 Francs Helvetia Coin AU (Random Year) - SKU #151896 | eBay

Never mind, has tax and limit is 4 so you can't avoid it.
 
When will men be judged by the content of their character and not by the content of their wallets?...

... both of which I am in arrears.
 
ASHDUMP said:
Just purchased a gold piece from Apmex. No tax. Over 1k.

Purchased some silver... Got taxed. Kind if makes it not worth it to buy online anymore?

How can money be taxed?
Click to expand...

Yeah, and gold’s value goes up due to inflation, and the government taxes you on that inflation they created to devalue their debt.

Once you let the fox in the hen house . . .
 

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